The Cash Flow Contractor

244 - What is Your Cash Strategy? with Lisa Dionisio

36 snips
Feb 21, 2025
Guest
Lisa Dionisio
In this session, Lisa Dionisio, a CPA and financial expert dedicated to helping entrepreneurs navigate their finances, shares vital insights on cash flow management. She discusses the significance of building a cash cushion and maintaining clean financial records. Lisa also emphasizes the need for understanding the difference between cash flow and profit, as well as the importance of monitoring receivables and managing overhead costs. Practical tips like utilizing lines of credit and encouraging upfront deposits are highlighted for maintaining financial stability.
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ADVICE

Modified Profit First

  • Set aside money for taxes in a separate account to avoid surprises.
  • Modify profit first to simplify and reduce the number of accounts used.
INSIGHT

Objective of Business

  • While subjective reasons for starting a business vary, the objective purpose is consistent.
  • Turn cash into more cash; profits without cash flow can lead to failure.
ANECDOTE

High-Risk Job

  • Some electricians start businesses only to dislike the work and added responsibilities.
  • They would be better off working for someone else and pursuing side interests.
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